Dangote Refinery drops ex-depot petrol price to N1,200/litre

Dangote Refinery has dropped the ex-gantry cost of Premium Motor Spirit by N75 to N1,200/litre.

Only recently, the refinery had hinted at an increase in depot petrol prices to around N1,350 per litre, owing to global oil market strains.

However, in a letter signed by the management, the refinery debunked the hike, claiming that prices remained at the N1,275/litre mark.

According to sources familiar with the situation, the 650,000-barrel-per-day refinery has again reduced the ex-gantry cost of petrol to N1,200/litre — the most stable price mark since the refinery’s ongoing price fluctuations.

As of 10:04 a.m., Brent Crude was trading at $100 per barrel, while West Texas Intermediate (WTI) stood at $94.32 per barrel, slipping by 0.49 percent.

Feyishola Jaiyesimi

Feyishola Jaiyesimi is a journalist at BusinessDay Media with over two years reporting experience. She began her journalism career as an agricultural reporter and now covers the energy sector, including oil, gas, electricity, environment, and renewables. She has been selected for professional training by the US Consulate, Lagos. She is a 2025 Dataphyte Biodiversity Reporting Fellow. Feyishola holds a bachelor’s degree in Zoology and Environmental Biology from Ekiti State University.